"Under the newly released Draft Capital Flow Management Regulations 2026, the National Treasury has proposed a hardline stance on crypto assets, requiring all visitors to declare their holdings and granting border officials sweeping powers to conduct invasive search and seize operations."
"The draft regulations address this by requiring travelers to produce, upon request, any device or data that might store or facilitate the transfer of these assets. Failure to declare could lead to criminal charges, steep fines of up to $60,250 or imprisonment for up to five years."
"In addition to searching the luggage or vehicles of persons suspected of contravening the capital flow rules, the draft regulations allow customs officers and authorized officials to conduct invasive searches of personal devices."
The South African Treasury's Draft Capital Flow Management Regulations 2026 require all visitors to declare their crypto assets upon entry or exit. Failure to comply may result in fines up to $60,250 or imprisonment for up to five years. The regulations classify crypto assets as capital, subjecting them to the same scrutiny as gold and foreign currency. Customs officials are granted extensive powers to search devices for crypto holdings, raising significant privacy concerns. Stakeholders are invited to provide feedback by June 10, 2026, before the regulations are finalized.
Read at news.bitcoin.com
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